Volume 2 Issue 5

June 2017
Syndicated loans are a highly versatile form of financing that can offer unique advantages over capital market issuance. But in today’s competitive and challenging market landscape, what is the best avenue for corporates to access funds? This month we take a look at the pros and cons of capital issuanc versus syndicated borrowing – and explore why the Islamic market could buck the general trend to encourage a wider variety of lending facilities than the conventional market is currently able to offer.

Volume 2 Issue 4

May 2017
The Islamic Corporation for the Development of the Private Sector (ICD) is a hugely influential body focused on funding, encouraging and developing private sector activity across its 52 member countries. One of the most instrumental bodies offering support to corporates keen to access the Islamic market, this month we bring you a comprehensive overview of the agency and its latest activity.

Volume 2 Issue 3

April 2017
It’s tough times for the global debt market as the decades-long bull market in bonds peters to a halt. So what other options are available to issuers seeking to raise capital? With the likes of crowdfunding, minibonds and P2P lending on the rise, LAUREN MCAUGHTRY looks at the latest opportunities popping up across the globe.

Volume 2 Issue 2

March 2017
It’s tough times for the global debt market as the decades-long bull market in bonds peters to a halt. So what other options are available to issuers seeking to raise capital? With the likes of crowdfunding, minibonds and P2P lending on the rise, LAUREN MCAUGHTRY looks at the latest opportunities popping up across the globe.

Volume 2 Issue 1

February 2017
The advantages of issuing Islamically have already been extolled in these pages – but what about the next step? Once the decision is taken to go down the Islamic path, the first decision is whether to issue by private placement or list on a public bourse. Once that has been determined however, the choices get harder. Where is the best place to issue? What benefits does a listing location offer? This month we bring you a rundown of the top exchanges for Islamic issuance.

Volume 1 Issue 12

December 2016
It has been a turbulent year for financial markets across the world, and the Islamic capital market has been no exception. But over the last 12 months the Sukuk sector has put in an extraordinary performance, with total volumes exceeding US$40 billion despite the economic headwinds as corporate interest rises and sovereign strength backs surging yields. In our final issue of the year, we take a look both forwards and back — looking at the latest activity in the market and exploring what the next 12 months might bring.

Volume 1 Issue 11

November 2016
Indonesia’s vast infrastructure requirements are no secret. According to the government, the country needs over US$413 billion between 2015-19 to meet its needs — almost half its total 2015 GDP and around five times its 2016 tax revenues of US$89 billion. Estimates suggest that the state is currently capable of funding less than a third of this figure and Islamic finance is the obvious answer. Could Indonesia’s desperate attempts to encourage Shariah financing hold the key for other countries seeking to fill their infrastructure gap?

Volume 1 Issue 10

October 2016
From Shariah rulings to legal documentation, the perceived fragmentation and lack of standardization in the global Islamic capital markets has been one of the primary barriers putting off potential issuers. But positive progress over the past year marks a sea change in the way Islamic instruments can be approached and utilized, opening them up to a wide range of new users. This month, we explore the latest developments that are encouraging access to a whole new range of opportunities.

Volume 1 Issue 9

September 2016
The global Islamic asset management industry is forecast to grow to US$77 billion by 2019, from US$58 billion at the end of 2015, according to the latest figures from the Malaysia International Islamic Financial Center (MIFC). With an estimated US$11.5 trillion in Muslim wealth up for grabs, competition to capture a share of the pie is growing – and asset managers are not only expanding their reach but encouraging the growth of new asset classes and instruments in order to serve the expanding demand. This month we take a look at the latest investment trends – exploring where this powerful new class of Islamic investors are placing their cash.

Volume 1 Issue 8

August 2016
Private bond placement is a growing trend, with key advantages such as speed to market, security of sale and stability of pricing that can be very attractive to corporates reluctant to take on the burden of a full public issuance. This month we take a look at the benefits that private placement can offer to businesses seeking capital, as Islamic investors eager for high quality paper push the market to new heights.

Volume 1 Issue 7

July 2016
The private equity market is booming. In June 2015, global private equity assets under management reached a new high of US$2.4 trillion, with record total capital distributions of US$189 billion in the first half of the year. While Islamic private equity remains a small percentage of the total, as global credit conditions tighten and M&A activity in key Islamic markets increases, the sector is expected to represent an increasingly significant avenue for corporate expansion in coming years.

Volume 1 Issue 6

June 2016
The law of supply and demand is one of the most basic principles of economic theory. When an item is scarce but many people want it, the price of the item will rise. When there is a larger supply than the market demands, its price will fall. Right now, the conditions are perfect for issuers with demand for Sukuk far exceeding supply, and investors clamoring for opportunities. So why are Islamic bonds in such high demand?

Volume 1 Issue 5

May 2016
For high growth businesses seeking early stage funding venture, capital is an efficient way to exchange equity for investment. Yet across many emerging markets venture, capital has seen a slow-down as weak economic growth and volatility put the brakes on bigger investors. Enter Islamic finance – with new platforms popping up across multiple markets, this alternative avenue offers a new lifeline for start-ups and SMEs seeking funding.

Volume 1 Issue 4

April 2016
Malaysian property developer UDA Holdings in March raised RM500 million (US$124.8 million) through a syndicated Islamic financing facility with five Malaysian banks. The funds will allow the firm to finance eight property projects with an estimated total development value of RM1.62 billion (US$414.2 million) – a clear demonstration of how tapping the Islamic capital markets can benefit firms seeking expansion.

Volume 1 Issue 3

March 2016
The agriculture industry represents around 8.5% of total global GDP, and is growing in stature as issues of food security, growing populations and volatile commodity prices bring the sector into the spotlight. As Islamic investors search for stable yield and income diversification, opportunities abound for corporates seeking financing in related fields. Where can you access financing, how is it structured, who is looking to invest, what innovations are out there and where are the hotspots for 2016? IFN CORPORATE offers you a comprehensive outlook for agriculture funding opportunities – the Islamic way.

Volume 1 Issue 2

February 2016
Infrastructure projects across the GCC provide contracts for a wide range of diverse corporates across multiple sectors: from construction and property firms to telecoms, oil and gas, manufacturing, tertiary services and more. The upcoming squeeze on bank financing will thus have a ripple affect across regional industries – and locating new channels of funding will become imperative for firms wishing to stay afloat.

Volume 1 Issue 1

January 2016
Last year was a tempestuous time for the global markets, and 2016 looks to be shaping up for another rocky ride. The world’s equity markets are in turmoil, emerging economies are facing major challenges, US dollar appreciation is piling up the pain and China’s problematic performance is pushing Asia to the brink. The IMF has warned that corporate failures are likely to rise in the developing world, while S&P recently cautioned that Gulf banks will see credit losses rise and net income fall next year in the face of slowing growth and capital market volatility.

Launch Issue

December 2015
What is Islamic finance, how does it work, and why should I care? These might seem like simple questions, but behind them lies a wealth of information, understanding and analysis that IFN believes is currently not available to the market in a comprehensive format. Welcome, therefore, to the inaugural publication of IFN Corporate: the first journal to provide you with a clear and concise introduction to the world of Shariah compliant finance from a straightforward commercial perspective. Join us as IFN Group Managing Editor LAUREN MCAUGHTRY opens the door to a world of opportunity.